Assignment 25-What's Next?

Existing Market
1. In terms of products and services in my venture, I think it would be possible to gather data on what consumers are ordering the most of, what the most popular recipes are, and offering personalized professional help to individual consumers for a premium.

2. Jenna Parker: After describing my business to her, she mentioned that it would be a smart idea to offer monthly subscription options so that consumers don't even have to worry about going back to make another order whenever they run out of their products. She also said that my idea is great because it incorporates the credibility of a professional into the offering, making it seem more legit than other services.

Helena Wegener: Just like Jenna, Helena suggested a subscription service to be offered at a slight discount from simply ordering the products on your own each month. This would attract consumers who don't have the time to worry about ordering these types of things each month, and would create brand loyalty right off the bat. She agreed that my idea is great, but questioned how expensive this service would be.

Sheila Flaherty: Sheila suggested that there be specific product recipes that are formulated for specific skin, scalp, or other diseases like eczema. This would point those consumers in the right direction and they wouldn't have to struggle trying to figure out what would work best for their condition. She liked my idea about the professional advice, and wondered if this would be done through 24/7 chatting capabilities, video chats, direct access to a specific phone number to stay in contact with them, etc.

I think that creating a subscription add-on would be the most logical next step for this venture because it has the ability to capture returning customers and create brand loyalty quicker than any other avenues. Although some consumers are hesitant to immediately sign up for a subscription service, there could be an option to get the first month half off if they sign up for the subscription, and they could cancel the service whenever they'd like.

New Market
1. A radically different market than what I am currently targeting is the B2B sector.

2. Businesses need soaps, lotions, etc. around their offices, and places like gyms may want some of the shampoos, conditioners, and body washes to dispense in their shower stalls.

3. I interviewed a couple of people who both liked my idea, and suggested that offering natural cleaning products would also be something to consider since many of the ones that businesses use are harsh on skin and irritate some people. They think this is a great idea also because it is available to order online and customize as much as they want, and buying in bulk they would be offered a discount.

I learned that there is a lot of potential in this market, maybe more so in other geographical areas where this is more of a concern, but nevertheless has the potential to succeed. I was most surprised about all the different possibilities that I hadn't thought of before, but a lot of my assumptions were correct, just not as in depth as they needed to be. This is an attractive market because of the size, but may be a little more difficult to implement.